Will have a gift for F&F settlement in 6 months

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Nikl
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by Nikl » Mon Mar 12, 2018 4:55 pm
I took out an IVA in October. I pay £111 for a debt of £27,000. (£6600) in contributions).

It has been offered by a family member that in 5 months they could offer me £4600 to pay off my debt, of which I would have £5600 left to pay. Do you think they would accept this?
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Foggy
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by Foggy » Mon Mar 12, 2018 5:15 pm
It is certainly worth a try -- after all they will be saving 4 years of admin costs. Remember to state that these are third party funds, for the purposes of a F&F only. If the offer is rejected the donor will retain the money and it will not thrn be available to the creditors.
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Lisa Thomas
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by Lisa Thomas » Thu Mar 15, 2018 10:29 am
Sounds reasonable to me.

You might like to start the process sooner as some firms take longer than they should to call the necessary variation meeting.
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